From First Offer to Final Minute: Lessons from Unstructured Bargaining | with Emin Karagözoğlu

In this episode, we dive into the world of experimental research on unstructured bargaining, exploring how real-world negotiations unfold when stripped of rigid rules and scripts. Our guest Emin explains how opening offers shape the conversation, the unspoken dance of reputation, and the ticking clock of deadlines – showing that even in seemingly messy contexts, strategic patterns emerge.   Emin Karagözoğlu is Associate Professor of Economics at Bilkent University. His work spans behavioural and experimental economics, game theory, and neuroeconomics, with a strong research focus on bargaining, fairness, morality, and dynamic negotiation processes.

In this episode we explore what motivates people to give, using insights from a Dutch TV game show where a live audience decides how to split €10,000 among three contestants. We discuss how real-world data from natural experiments can help answer questions about fairness, impact, and generosity - and what this means for fundraisers and policymakers.   Dennie van Dolder is Senior Lecturer (Associate Professor) at the University of Essex. His research focuses on behavioural economics and empirical game theory, often drawing on data from game shows to study real-life decision-making.

In this episode we dive deep into the economics of digital markets with Dirk Bergemann. We discuss how search platforms like Google created entirely new marketplaces around user attention and private information, what makes digital markets so unique, and how auction design evolved to match the scale and complexity of internet advertising. Dirk also shares insights from his own research on how platforms collect and use user information and gives an economist’s perspective on how emerging technologies - like large language models - might reshape the future of search and advertising.   Dirk Bergemann is Douglass and Marion Campbell Professor of Economics at Yale University and an expert in game theory, contract theory, and market design. Among others, his research is focused on economics of digital markets - especially those shaped by search engines and advertising auctions.

In this episode, we talk to David Pinsof about the surprising ways people form their beliefs and build alliances. Drawing on his survey with Cards Against Humanity, he shares how people often hold contradictory views and what this reveals about group coordination. We also dive into his game-theoretic model of coalition-building, explore how humor functions as a coordination tool, and discuss the deeper logic behind seemingly irrational behavior.   David Pinsof is a behavioral scientist whose work combines evolutionary psychology and game theory, to understand belief formation and social dynamics. He is also one of the co-creators of "Cards against Humanity", the author of the blog Everything Is Bullshit and recently launched the podcast - Evolutionary Psychology (The Podcast) - in which he explores cutting-edge work in the evolutionary behavioral sciences. You can find the paper „Strange Bedfellows" David mentioned in the episode here.

In this episode we are talking to Vitali Gretschko about how generative AI can be used to simulate strategic behaviour in auctions. We explore where AI tools can support auction design, where they fall short, and how practitioners should interpret simulation results. Vitali also explains why AI is best seen as a co-intelligence that needs expert guidance.   Vitali Gretschko is Professor for sustainable Market Design at the University of Münster. His research focuses on auction theory, market design, and applying game theory to practical strategic problems.

In this episode, our guest Rory Smead shares insights on spite and what game theory can teach us about this puzzling behaviour. He explains why people sometimes punish others even at a cost to themselves, and whether this can be understood through more than just fairness. Using the ultimatum game as a central example, he discusses how spite can influence decision-making and what this reveals about both human and animal behaviour.   Rory Smead is Professor of Philosophy and the Ronald L. and Linda A. Rossetti Professor for the Humanities at Northeastern University. His research focuses on philosophy of science, philosophy of biology, logic, and game theory, with a particular interest in understanding social behaviour through formal models.

In this episode we are talking to Timo Vogelsang about why incentives aimed at reducing absenteeism can sometimes have the opposite effect. Based on a Field Experiment in a German supermarket chain, he explains why offering bonuses for attendance backfired. We also explore how incentives can unintentionally shape beliefs and undermine motivation.   Timo Vogelsang is Associate Professor of Managerial Accounting at the Frankfurt School of Finance & Management. His research focuses on behavioural economics and public policy, with a particular interest in how incentives shape motivation and behaviour in real-world settings. You can find the paper Timo talks about in the episode here.

In this episode, we sit down with Philipp Strack to explore the hidden consequences of overconfidence. From distorted learning to discrimination and systemic bias, Philipp explains to us how overestimating ourselves can quietly shape our decisions, relationships, and even society — and why it’s not always a bad thing.   Philipp Strack is a professor of Economics at Yale University with a secondary appointment as Professor of Computer Science. His research focus lies in decision-making and behavioral economics in dynamic contexts as well as in concepts like information cost and privacy, among others.

In this episode we explore how historical kinship structures, shaped in part by decisions of the Catholic Church, may have fundamentally changed the way humans are able to cooperate on a large scale. Using game theoretic concepts like reciprocity and network structure, we uncover how bans on cousin marriages and even modern Facebook data can help explain patterns of trust and cooperation today.   Jonathan Schulz is Assistant Professor in the Department of Economics at George Mason University and Co-Principal Investigator of the interdisciplinary Historical Psychology Project. His research focuses on the historical and psychological roots of economic development, with a particular interest in how social networks and kinship structures influence cooperation.

In this episode together with our guest Klaus M. Schmidt, we explore the economic challenges behind global climate agreements. We discuss why past agreements like the Kyoto Protocol and the Paris Agreement struggled to deliver the desired results and examine how a new negotiation design centered on a uniform CO₂ price could lead to better outcomes. Klaus also shares insights from experimental studies testing this approach in practice.   Klaus M. Schmidt is an economics professor at Ludwig Maximilian University of Munich, and an expert in social preferences and contract theory, among others.